Asian ports urged to find new ways to grow

SUBIC BAY FREEPORT, Philippines — With their critical role in keeping trade alive despite the current economic slowdown, sea ports in the Asian region should find new opportunities to gain growth amid the ongoing crisis, said Feliciano Salonga, chairman of the Subic Bay Metropolitan Authority (SBMA).

Salonga, who opened the 11th general assembly of the International Network of Affiliated Ports (INAP) in Mokpo, South Korea as outgoing chairman, said the 11-year old port network should work overtime in keeping ahead of competition today.

“The (maritime) industry operates in a global environment and grows or shrinks proportionately with trade activities all over the world,” Salonga noted in his statement at the opening of the assembly.

“But the proverbial silver lining behind today’s economic slump is the fact that while every crisis is different, all crises have one thing in common — and that is, they all create opportunities, especially for those who can identify them and are ready to act,” he added.

According to Salonga, who is also a commodore of the Coast Guard Auxiliary Group, the Port of Subic provides a good example of how opportunities could be created out of “unfortunate events.”

He stressed that Subic had lately become a choice anchorage for international seagoing vessels waiting out the recession and thus has earned P319.73 million from vessel lay-ups and wharfage fees on imported products in the first seven months this year.

Salonga said this amount was P3.43 million more than the revenue target set by the SBMA for this year, and represented a 15.7 percent growth over the 2008 figures.

“So, today’s economic crisis should not be any different — if we attack it with logical examination, passionate zeal and decisiveness,” he also told INAP members.

Salonga likewise urged INAP members “to re-establish priorities by taking a fresh look at how to manage the fiscal and operational aspects of ports, where to find new revenue streams and, at the same time, control costs.”

At the same time, Salonga urged INAP members “to discuss how we can attract more ports to join INAP,” which, he said, had attracted only three new members in the last 11 years.

He said that by tackling these twin tasks, INAP could “manage to be heard and heeded as a formidable voice and authority in the industry,” especially since ports “remain critical to the financial health of most economies around the world.”

“We in INAP can definitely be part of the solution — if we do what we ought to do and do it well,” Salonga concluded.

This year’s INAP general assembly was hosted by the Mokpo Newport in South Korea.

Show comments